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Moldova Economy 2011
https://theodora.com/wfb2011/moldova/moldova_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 13, 2011

Economy - overview:
Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate and good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco. Moldova must import almost all of its energy supplies. Moldova's dependence on Russian energy was underscored at the end of 2005, when a Russian-owned electrical station in Moldova's separatist Transnistria region cut off power to Moldova and Russia's Gazprom cut off natural gas in disputes over pricing. In January 2009, gas supplies were cut during a dispute between Russia and Ukraine. Russia's decision to ban Moldovan wine and agricultural products, coupled with its decision to double the price Moldova paid for Russian natural gas, have hurt growth. The onset of the global financial crisis and poor economic conditions in Moldova's main foreign markets, caused GDP to fall 6.5% in 2009. Unemployment almost doubled and inflation disappeared - at -0.1%, a record low. Moldova's IMF agreement expired in May 2009. In fall 2009, the IMF allocated $186 million to Moldova to cover its immediate budgetary needs, and the government signed an new agreement with the IMF in January 2010 for a program worth $574 million. In 2010, an upturn in the world economy boosted GDP growth to 3.1% and inflation to 7.3%. Economic reforms have been slow because of corruption and strong political forces backing government controls. Nevertheless, the government's primary goal of EU integration has resulted in some market-oriented progress. The granting of EU trade preferences and increased exports to Russia will encourage higher growth rates, but the agreements are unlikely to serve as a panacea, given the extent to which export success depends on higher quality standards and other factors. The economy has made a modest recovery, but remains vulnerable to political uncertainty, weak administrative capacity, vested bureaucratic interests, higher fuel prices, poor agricultural weather, and the skepticism of foreign investors as well as the presence of an illegal separatist regime in Moldova's Transnistria region.

GDP (purchasing power parity):
$10.6 billion (2010 est.)
country comparison to the world: 147

$10.28 billion (2009 est.)
$10.99 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$5.357 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.1% (2010 est.)
country comparison to the world: 115

-6.5% (2009 est.)
7.8% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,500 (2010 est.)
country comparison to the world: 179

$2,400 (2009 est.)
$2,500 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 16.3%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 20.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 63.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
1.203 million (2009 est.)
country comparison to the world: 138
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 40.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16%
[see also: Labor force - by occupation - industry country ranks ]
services: 43.3% (2005)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.4% (2010 est.)
country comparison to the world: 26

3.1% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
29.5% (2005)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.2% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
33.2 (2003)
country comparison to the world: 95

40.6 (1997)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
21.7% of GDP (2009 est.)
country comparison to the world: 69
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $2.164 billion
[see also: Budget - revenues country ranks ]
expenditures: $2.462 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
25% of GDP (2010 est.)
country comparison to the world: 99

25.7% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
7.3% (2010 est.)
country comparison to the world: 185

-0.1% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
20.54% (31 December 2009 est.)
country comparison to the world: 15

21.06% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.221 billion (31 December 2010 est)

$1.189 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.889 billion (31 December 2010 est.)

$2.942 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.11 billion (31 December 2010 est.)
country comparison to the world: 125

$2.251 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (2004)
country comparison to the world: 104

$573.9 million (2004)

[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
vegetables, fruits, grapes, grain, sugar beets,sunflower seed, tobacco; beef, milk; wine

Industries:
sugar, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles

Industrial production growth rate:
4.5% (2009 est.)
country comparison to the world: 75
[see also: Industrial production growth rate country ranks ]

Electricity - production:
3.617 billion kWh (2007 est.)
country comparison to the world: 120
[see also: Electricity - production country ranks ]

Electricity - consumption:
4.37 billion kWh (2007 est.)
country comparison to the world: 114
[see also: Electricity - consumption country ranks ]

Electricity - exports:
240 million kWh (2007 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
2.931 billion kWh (2007 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 148
[see also: Oil - production country ranks ]

Oil - consumption:
19,000 bbl/day (2009 est.)
country comparison to the world: 129
[see also: Oil - consumption country ranks ]

Oil - exports:
36 bbl/day (2007 est.)
country comparison to the world: 136
[see also: Oil - exports country ranks ]

Oil - imports:
14,230 bbl/day (2007 est.)
country comparison to the world: 129
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 158
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
50 million cu m (2007 est.)
country comparison to the world: 82
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
2.52 billion cu m (2008 est.)
country comparison to the world: 77
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 94
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
2.52 billion cu m (2008 est.)
country comparison to the world: 44
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 145
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$565 million (2010 est.)
country comparison to the world: 119

-$464.6 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$1.45 billion (2010 est.)
country comparison to the world: 139

$1.332 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
foodstuffs, textiles, machinery

Exports - partners:
Russia 23.77%, Italy 14.11%, Romania 12.74%, Germany 6.92%, Turkey 6.08%, Belarus 5.38% (2009)

Imports:
$3.66 billion (2010 est.)
country comparison to the world: 133

$3.276 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
mineral products and fuel, machinery and equipment, chemicals, textiles

Imports - partners:
Ukraine 19.9%, Romania 15.1%, Russia 14.52%, Germany 8.69%, Italy 5.7%, Belarus 4.38% (2009)

Reserves of foreign exchange and gold:
$1.6 billion (31 December 2010 est.)
country comparison to the world: 104

$1.48 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.146 billion (31 December 2010 est.)
country comparison to the world: 115

$3.844 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA (31 December 2010)

$1.813 billion (2008)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Moldovan lei (MDL) per US dollar - 12.443 (2010), 11.11 (2009), 10.326 (2008), 12.177 (2007), 13.131 (2006)


NOTE: The information regarding Moldova on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Moldova Economy 2011 information contained here. All suggestions for corrections of any errors about Moldova Economy 2011 should be addressed to the CIA.



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